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Thursday, December 1, 2016

Monthly Forecasts for CFDs (December 2016)

AUS200

Dominant bias: Bullish

On November 9, AUS200 dipped massively, reaching a low of 5042.00.
Since then price has climbed numerous resistance lines (now support lines) gaining
roughly 4500 points. Since the bias on the market is bullish, it is expected
that price would continue going upwards till the end of the year. While there
may be pauses, consolidation, and transient corrections along the way, the
market is expected to reach the resistance lines at 5530.00, 5560.00 and
5590.00.

SPX500

Dominant bias: Bullish

This market trended south in the first few days of November,
and then gapped upwards, assuming a strong bullish movement. The bullish
movement was briefly interrupted on November 9 as price became extremely
volatile, reaching a high of 2170.3 and a low of 2031.9. Since then price, has
trended northward smoothly, reaching the resistance level at 2210.0. Attempt to
close above that resistance level is currently not successfully, but that goal
would be achieved this month, as price goes upwards towards the resistance levels
at 2230.0, 2260.00 and 2290.0.

US30

Dominant bias: Bullish

What happened to US30 last month was quite similar to what happened
to SPX500. Price trended downwards from November 1 to 4, and the gapped upwards
to start a noticeable bullish journey. Price plummeted on November 9, reaching
a low of 17478, owing to the US presidential elections results. From that low,
price has appreciated more than 1780 points, to close at 19161 on November 30.
There is a strong Bullish Confirmation Pattern on the market and the rest of
this year would be bullish as price trudges towards the distribution territories
at 19300, 19500 and 19700.

GER30

Dominant bias: Neutral

Unlike SPX500 and AUS200, GER30 did not do much in November.
Price did start trending downwards for a few days, gapped up later and became
seriously volatile on November 9. The market dropped like stone and quickly recovered
– a kind of flash crash. Since then, price has entered an equilibrium phase,
bringing about a neutral bias on the market. Now, there is a base, and a rise
in momentum would force price to go out of that base, and when that happens, it
would most probably favor bulls. The supply levels at 10700.0, 10750.0 and
10800.0, would likely be tested within the next several weeks.

FRA40

Dominant bias: Bullish

Interestingly, FRA40 almost did what GER30 did last month.
It went south in the first few days of November, gapped upward, started a
bullish journey, only to experience a flash crash on November 9. The market has
recovered and it is currently making some attempts to go higher and higher,
though bears are not making that an easy task (which explains the current
choppy market condition). Since the outlook on the market is bullish, it is
expected that price would somehow go upwards this month, maintaining the
bullish outlook on it.